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A condensed balance sheet for Morningstar, Inc. is presented below: Required: Prepare a vertical analysis of the balance sheet for Morningstar, Inc. (Round your answers

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A condensed balance sheet for Morningstar, Inc. is presented below: Required: Prepare a vertical analysis of the balance sheet for Morningstar, Inc. (Round your answers to the nearest whole percent.) Morningstar, Inc. Balance Sheet December 31 (amounts in millions) Amount % Amount % Current Assets Current Liabilities Cash & Cash Equivalents 6,260 Accounts Payable $ 423 Accounts Receivable 1,300 Accrued Liabilities 2,613 Inventories 820 Total Current Assets 8,380 Total Current Liabilities 3,036 3,036 Long-Term Liabilities 1,200 Property & Equipment, Net Long-Term Investments 2,660 Total Liabilities 4,236 9,840 Total Stockholder's Equity Total Liabilities & Stockholder's Equity Total Assets $ 14,076 $ 14,076

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